Intrepid eyes strategic alternatives
Intrepid Potash Inc., Denver, said Dec. 15 that it has engaged Cantor Fitzgerald & Co. to assist in assessing potential strategic alternatives available to Intrepid.
The company said it had previously agreed with its noteholders, pursuant to the terms of an amended and restated note purchase agreement, dated Oct. 31, 2016, to engage a nationally recognized investment bank to assess, evaluate and assist in pursuing potential strategic alternatives available to Intrepid, as determined to be appropriate by Intrepid. Strategic alternatives could include, but are not limited to, continuing its current operating plan, equity offerings or balance sheet restructurings, merger and acquisition opportunities, partnership or joint venture opportunities, entering into new or complementary businesses or a sale of Intrepid or some or all of Intrepid’s assets. Intrepid noted that there can be no assurance that this evaluation will result in any transaction. Intrepid has not set a timetable for the completion of the strategic review process.